The Indian industry is not yet fully prepared for the complete elimination of tariffs in the World Trade Organisation identified seven key sectors, including textiles and auto components, the PHD Chamber of Commerce and Industry has said.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
With the termination of multi-fibre agreement set for January 1 2005, India is poised to double its share in the global textiles and garment market to eight per cent and become a $50 billion sector by 2010, says a PHD Chamber of Commerce and Industry
Brokerage Edelweiss Securities said if the NDA returns to power with a clear majority in line with exit polls, markets would rejoice the policy continuity.
Since the imposition of lockdown on March 25 by the government to contain the COVID-19 spread, businesses have been facing liquidity or cash crunch, leading to difficulties in paying their mandatory provident fund dues.
Debroy worked as a consultant in the Department of Economic Affairs in Finance Ministry.
Growth of capital goods at 9.6 per cent is inspiring as the investment cycle is expected to rebound in the coming months.
Inviting private investment, Railways Minister Suresh Prabhu on Friday said a transparent system is being put in place to facilitate it and moves are afoot to revamp the ministry's public-private-partnership (PPP) cell.
"It (JK) is not a political issue as far as I can see. They have been barking up the wrong tree for the last 50 or 70 years by talking about the politics of it, that the political situation has never improved. We seriously need to look at in terms of how it is a society that is in search for itself," Drabu had said at an event organised by the PHD Chamber of Commerce and Industry in New Delhi on Friday.
"India's middle class, small traders and farmers are the lifelines of its economic growth. By catering to these ambitions #Budget2019 infuses hopes for millions of dreams."
India on Monday said it could consider imposing "some kind of safeguard duties' on Chinese imports to bridge the huge trade gap as it cannot be sustained in the long run.
'This solid verdict would further strengthen his resolve to drive forward the economic agenda to ensure that the fruits of the economic momentum continue to reach the poor, so visible during the last five years.'
The previous high in quarterly GDP growth was recorded in the January-March quarter of 2015-16 at 9.3 per cent.
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
Expressing serious concerns over the current account deficit touching a record 4.8 per cent in 2012-13, India Inc on Thursday asked the government to take all policy measures, including boosting exports and foreign exchange inflows to bring down CAD.
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